Power
Power generation projects, electric utilities, and co-ops can have high initial costs. Smart capital borrowing can make getting started – and keeping the momentum – a little easier.
The power industry is dynamic and ever-changing - we provide capital to businesses to help them stay ahead of the curve.
We provide our partner companies with the security of a large capital provider, and the care and attention to detail of a small group. We’re able to focus just on power, generation, and transmission assets as well as more traditional natural gas and fire generating assets.
We can provide capital and structure complex transactions across the risk spectrum, and across diverse power generating technologies. We can provide project financing for contracted assets, as well as secured and unsecured financings for utilities with a regulated rate base.
Our longtime involvement in the Power sector includes investments of $14.8 billion since the Power group was established in 2004. Our current Power portfolio stands at $9.4 billion, with 101 project issuers, 32 utilities, and 21 electric cooperatives (as of 30.6.19).
Typical size
- Senior Debt: $20 – $200+ million
- Mezzanine Debt: $10 – $30 million
- Equity: $10 – $30 million
Typical issues
- Construction of new power plants that are either providing power onto the electric grid or are selling energy to another utility or off-taker
Structural characteristics
- Emphasis on project finance (construction loan, term loan, subordinated debt), utilities, and electric cooperatives
- Investment grade and below investment grade, fixed- or floating-rate debt, mezzanine, and partnership equity
- Emphasis on contracted assets and return on rate base
Issuer benefits
- Flexible capital for unique situations, across the risk spectrum
- With us, borrowers can expect to have consistent access to capital throughout market cycles
- Construction and term-lending with custom amortisation up to 30 years
Our Two Cents
The Power group
Hear Wendy Carlson, Parag Patel, Ty Bowman, and Ingrid Soldatova describe how they can help companies like yours.
“Pricoa Private Capital is a great long-term partner. We look forward to continuing our relationship in the years ahead.”
Sean McCloskey, Chief Executive Officer, Penn Energy
Our People
Global reach,
personal touch.
“We have a large portfolio and have worked with many companies over the years, but you will never have the sense that you are one in many, because you are not. Your business is unique, your project is unique, and we are very cognisant of that.”
WENDY CARLSON
MANAGING DIRECTOR
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Pricoa Private Capital (‘PPC’) is a trading name of PGIM, Inc. (‘PGIM’), the principal asset management business of Prudential Financial, Inc. ('PFI'). Pricoa Private Capital registered in Ireland as Pricoa Capital Group (Ireland) Limited, Pramerica Drive, Letterkenny Business and Technology Park, Letterkenny, Co Donegal, F92 W8CY, Ireland. Registered in Ireland under company number: 635793. Authorised and Regulated by the Central Bank of Ireland. In the United Kingdom (UK), and various other jurisdictions in Europe, certain investment activities are undertaken by Pricoa Capital Group Limited, authorised and regulated by the Financial Conduct Authority, (registration number 172071). Pricoa Capital Group Limited is registered in England No. 1331817. The registered office is Grand Buildings, 1-3 Strand, Trafalgar Square, London WC2N 5HR. PPC, Pricoa, PGIM and the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide. PFI of the United States is not affiliated with Prudential plc, a company incorporated in the United Kingdom.
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